国货美妆,扎堆港股“求生”?

投资者网
Nov 11, 2025

向外走是最佳解答吗?《投资者网》引力 | 韩宜珈2025年秋,国货美妆行业迎来一场港股上市热潮。9月,成立24年的自然堂终于向港交所递交招股书,叩响资本市场大门。一个月后,已在A股上市八年的珀莱雅也正式提交上市申请,冲刺首个“A+H”上市的国货美妆公司。当珀莱雅与自然堂两大国货美妆巨头,在2025年秋冬季相继叩响港交所的大门时,这不仅仅是两家公司的资本选择,更代表了整个行业在增长见顶、竞争内卷下的...

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